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Islamic Development Bank

The largest islamic economic gathering celebrates 40 years of dedicated service

: Monday, June 23 - 2014 @ 11:45

Under the patronage of Custodian of the Two Holy Mosques, King Abdullah bin Abdul Aziz Al Saud, the Islamic Development Bank Group is holding its Annual Meeting in Jeddah, Saudi Arabia, from 22-26 June 2014 and celebrating the IDB’s 40th Year Anniversary.

The meetings will be attended by finance and economy ministers of the (56) member countries and more than 1,000 delegates representing international and regional financing institutions, Islamic banks, national developmental financing institutions, federations of contractors and consultants from Islamic countries.

The Annual Meeting of the IDB Group will take place over a five-day period in conjunction with sub-meetings including the 39th annual meeting of the Board of Governors of the Islamic Development Bank (IDB); the 21st annual meeting of the Board of Governors of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC); the 14th General Assembly meeting of the Islamic Corporation for the Development of the Private Sector (ICD); the 9th General Assembly meeting of the International Islamic Trade Finance Corporation (ITFC); and the 7th annual meeting of the Board of Governors of the Islamic Solidarity Fund for Development (IFSD).

On this occasion, the IDB Group President Dr. Ahmad Mohamed Ali, expressed his deepest thanks and appreciation to the Custodian of the Holy Two Mosques, for his continuous support of the IDB and reaffirmed IDB Group’s commitment to poverty alleviation and the promotion of human development, especially in the areas of education for everyone, the improvement of health services, as well as promoting the participation of women in development; in order to achieve sustainable development and prosperity of the Muslim people around the world in cooperation with the IDB partners. He also restated the IDB’s commitment to the promotion of the Islamic financial services industry and to work on the integration of the economies of the member states.

Meanwhile, on the occasion of the 40th Anniversary of the IDB Group, a number of events will be held including a forum titled “Fostering Dynamic Ecosystems in Developing Economies”, which will be held on June 23, 2014, and will focus on how to build a dynamic innovation ecosystem across countries and communities that can nurture the development of long-term innovative ideas, products, solutions to add value to the economy. The forum will draw insights from four case studies and beyond to stimulate new thinking, interaction and creativity amongst the experts, academics, policy makers and private sectors.

In addition, an exciting exhibition on innovative will be held alongside the Annual Meeting. More than 40 innovative project and solution from 19 member countries will be show cased outside the forum venue. Visitors will be able to find innovations in the area of health, agriculture, education, infrastructure, electronics, nanotechnology etc.

On another note, the IDB which has officially announced the names of the winners of the IDB Banking and Islamic Finance Awards for the year 1435H (2014), will honor the winners during the Annual Meeting. The selection committee of the prize decided unanimously to award the prize this year equally between Sheikh Muhammad Taqi Usmani of the Islamic Republic of Pakistan and Professor Rodney Wilson of Britain, in recognition of their excellence in this area.

The IDB created the annual prize in the year 1408H (1988) in order to recognize unique accomplishments and to motivate people to achieve excellence in both banking and Islamic finance. In the past 24 years, 33 distinguished individuals have won the award.

The Islamic Development Bank is an international financial institution with AAA rating. The IDB seeks to become an excellent development bank by 2020, inspired by Islamic principles that has helped significantly transform the landscape of comprehensive human development in the Muslim world and helped restore its dignity.

For more information please contact:
Eman Al Zari
Senior Media Relations Executive
Tel: +966-12-662-5757
Fax: +966-12-639-9540
Email: [email protected]

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Monday, June 23- 2014 @ 11:45 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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